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...only glum faces in the art world belong to museum directors, who because of a new tax law may have a harder time obtaining these treasures. Tucked into the Pension Protection Act, which President Bush signed into law in August, the law imposes stricter limits on the popularly used method by which art collectors donate their works to museums. In the past, collectors would often hand over partial ownership of a painting--usually from 10% to 20%--and take a tax deduction for an equivalent percentage of the appraised value. The write-off on subsequent donations could rise each time...

Author: /time Magazine | Title: Portrait of a Bull Market | 11/13/2006 | See Source »

Sales of Pavement's fuzzed-out masterpiece don't stack up to the rounding errors on Nevermind, but its influence on Beck, Blur, Radiohead and countless other musicians of the '90s is incalculable. Lead singer and former Whitney Museum of Art security guard Stephen Malkmus expressed alienation with the same lo-fi guitar grit of Kurt Cobain, but his lyrics and vocals were models of cryptic passion. Somehow his word salads communicated both the ennui of a suburban smart-ass and an awareness that ennui isn't tragic...

Author: /time Magazine | Title: 6 Great Albums From 6 Decades | 11/12/2006 | See Source »

...touched and very happy to read about Yunus' microcredit story. In a time of such bleakness and pessimism, the possibility that by 2030 the only trace of poverty could be in a museum was absolutely wonderful news. Imagining a very near future in which the word poverty requires the use of the past tense ought to be enough to make everyone optimistic...

Author: /time Magazine | Title: Letters: Nov. 20, 2006 | 11/12/2006 | See Source »

HONORED. Jason Dunham, 22, Marine corporal who died in April 2004 after diving on a grenade to save fellow Marines; with the Congressional Medal of Honor, the U.S.'s highest military award; by President Bush at the dedication of the National Museum of the Marine Corps in Quantico, Va. The medal for Dunham was just the second Congress has bestowed during the 31/2-year Iraq...

Author: /time Magazine | Title: Milestones Nov. 20, 2006 | 11/12/2006 | See Source »

...looking for a monument, an art museum or the best route to the airport, you are out of luck with the eat.shop guides. But if you absolutely must find the best cowboy boots in Austin, Texas, a bait-and-tackle shop with high-design sensibilities in Providence, R.I., a Persian ice cream parlor in Hollywood or Japanese tapas in Brooklyn, N.Y., these compact urban guides may be for you. Each volume focuses on 90 locally owned shops or restaurants in cities from Portland, Ore., to Paris...

Author: /time Magazine | Title: Travel: Savvy Travelers | 11/12/2006 | See Source »

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